Tech shares climb after strong Nvidia results despite warning over rise of Chinese rivals

Technology shares climbed on Thursday, buoyed by strong results from Nvidia, despite the AI chip company's boss issuing a warning about the rise of Chinese rivals. The Stoxx Europe tech index rose by 0.8% on Thursday following Nvidia's financial report, with the Dutch semiconductor equipment maker ASML rallying by 2.4%. In the US, futures for the tech-focused Nasdaq climbed 2%, and shares in Nvidia itself jumped 6% in pre-market trading. The boost to tech and artificial intelligence stocks came hours after Nvidia beat Wall Street forecasts, with quarterly revenues jumping 69% to 44bn ( 32.6bn). The company also said it expected deals in the Middle East to start to fill a gap left by the loss of Chinese business.